Posted by Ed Garcia on October 11, 2000 at 10:28:47:


Not only is it possible, it’s being done every day. Jeremy, if you were in California, I would tell you, that I could do your deals for you. However at this time I don’t have any hard money sources in DC. I’m hoping to develop a network of hard money lenders across the country, but that’s going to take some time. The problem is that many lenders misrepresent themselves. They say that they do loans in the fashion or criteria that I describe, and then fall short. So it takes time to find out who’s really performing.

My suggestion is to go on a money chase. You can start out with some aggressive Mortgage Brokers in your area. A good mortgage broker who works in the area, should have a hard money source at their beckon call. Mean while I would leave no stone unturned in looking in the phone book and newspapers. You could run ads, but when dealing with private investors that you’ve never dealt with before, it’s not what I would call a reliable source until you done business with them. When dealing with a private investor, always have a plan “B” because they can change their mind or not perform and you’re left high and dry.

Ed Garcia


Posted by Jeremy Brown on October 11, 2000 at 02:09:10:

I was wondering if it is possible to find a 95
or 100% financing product for properties that I am seeking to purchase. The average property has a 60% LTV purchase price or lower (future value with accredited appraisal). I don’t need a loan that is re-hab inclusive, only for the purchase. I have found loans that are capable, but they are ratio dependent upon personal earnings, etc… which means I am only capable of picking up a few at a time. I would like to have the lending based on experience, fair downpayment(5% or less)and the equity/low LTV in the property as security as well I have excellent credit. I am looking to have a loan to cover all the properties independently or grouped, depending on the underwriting limitations but not based on debt ratios. All properties are unoccupied and REO-based(bank-owned)MD, DC area. Points and closing will be paid by me on all properties. Also, max turnover targeted at 6 months from previous deals accomplished.

Any suggestions? Did I miss any necessary info?

thanks for everything and good luck everybody

Jeremy Brown ( (principal investor)